The star, the 2,433rd awarded, is for Baldwin's TV accomplishments, which include a record-tying 15 appearances as host of Saturday Night Live (placing him alongside Steve Martin, with whom he also hosted the Oscars), two seasons on the 80's drama Knots Landing, and guest spots on shows like Friends and Will & Grace.

It was his cameo on the latter that he credits as the reason he took on the role of Jack Donaghy, the occasionally demeaning, playboy-esque studio executive who torments Tina Fey's Liz Lemon on the NBC sitcom.

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"I didn't think this was something I wanted to do, to commit to a show, to sign a contract for years on end," he said during the presentation ceremony. "I made films and worked in the theater and there's a lot of diversity there that's kind of an advantage. But then I did Will & Grace and had the best time of my life. Working with Megan [Mullally] on that show...I realized it was a lot of fun. It inspired me to do this."

Mullally and Baldwin's brother Stephen were on hand to see the the two time Emmy, Golden Globe and Screen Actors Guild award winner have his star placed just seven slots away from that of his famous ex, Kim Basinger.

"I'm kind of blown away," Baldwin said. "My daughter has the distinction of both of her parents have this. I think it's kind of cool for my kid."